Protector Forsikring, which provided property and liability cover for Royal Borough of Kensington and Chelsea’s (RBKC) Grenfell Tower, will be incurring a £6.9 million loss following the result of arbitration involving its property reinsurer which was previously identified as Munich Re.
“The panel decided against Protector’s understanding of how the reinsurance contract covers the financial property loss following the tragic fire in Grenfell Tower,” stated the Norwegian insurer in an Oslo Stock Exchange filing.
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